tv MSNBC News Live MSNBC July 23, 2011 8:00am-9:00am PDT
it's msnbc saturday. i'm alex witt. it's just past 11:00 a.m. in the eastern. at this hour at the white house the president is expected to convene another round of debt talks after breakdown in negotiations last night. let's get right now to nbc white house correspondent mike at the white house for us. another good saturday morning, to you mike. who is attending this meeting? >> reporter: it's the top four leaders significant in and of itself, because previously when the president had all the
leaders at the white house, there were eight. it came out in the open at one point that group was too big. even eight of the top congressional leaders, too unmanageable and too unwielding. harry reid and nancy pelosi, and mitch mcconnell from the senate and john boehner who has been the president's chief interlocker over the several weeks. the question is can they pick up the pieces after the deal crashed and burned, the so-called grand bargain last night? ak moneyy back and forth. the president accusing house speaker john boehner of not returning telephone calls. the target is always moving, and moving the goalpost particular eye the issue of taxes, alex. john boehner said we had an deal on $800 billion in revenues.
similar to analogous to taxes in washington speak. over the course of ten years, i've got more on my blackberry at this moment. the president came back to the republicans earlier in the week after getting an earful from democrats after seeing a rival plan emerge in the senate that had higher tax revenues. they blame that for kind of messing this whole thing up, fouling up the whole deal, sanding the gears, whatever analogy you want to use. it led to the events of yesterday when the president said he couldn't get a return phone call from john boehner. called over there, and he was told that boehner would call him back at 5:30. when boehner called back late yesterday, he pulled the plug for the second time on this deal. obviously, a frustrated president obama appeared immediately in the pressroom here, excoriated boehner for not bringing his conservatives along with him to the table and questioned whether he can make a deal. pretty much summoned the congressional leaders here in
washington, and that's where we stand. >> the president summoned everybody and talked about the four leaders by name sxsd i want them to each come back with new proposals. are they returning with propo l proposals discussed previously? how can you start over from the very basic drawing board in 12 hours? >> reporter: we've blown through one ultimatum and deadline in this deal, alex. we're ten days from what most people who know what they're talking about, republican and democrat, everybody signs onto the idea that a default is unthinkable. technically we might not talk about a default when you pay the debt, but when you look at what this country owes and pays out, for every dollar the government spending on any given day, 40 cents of that dollar is borrowed money. you have to prioritize. if you service a debt and pay off social security debts, some very important things go unpaid. law enforcement, federal courts, you name it it on down the line.
nobody wants to see what that post apock liptic landscape will look like. are the pieces still in place? are the same incentives that brought these four leaders together to try to strike this gigantic $4 trillion savings over ten years, this grand bargain deal on the table, are those incentives still in place to bring them back to the table? are the outlines still here, or is it something completely beyond salvaging, alex? >> we'll see with time. thanks very much for sweating it out there at the white house for us. developing now, police in norway have one man in custody suspected in two separate attacks with the death toll now climbing to 92. the first attack took place in downtown oslo whether a bomb exploded and killed 7 people. a short time later a gunman went on a shooting rampage at a teen summer camp just outside of oslo. police are investigating whether a second gunman was involved in the attack at the summer camp.
martin fletcher is live for us in norway on the phone. martin, let's get to the latest. police are saying first off about this man in custody. what do we know? >> reporter: alex, he's a 32-year-old norwegian, which was a sfriz about all the speculation about islamic interests. interestingly enough he changed his facebook page a week ago and he described himself as christian and conservative. he said his favorite hobby is hunting, and the police suspect that he was the person responsible for the bomb in oslo first. in may he's said to have bought six tons of the materials used in that bombing. then he drove to the island where the summer camp, obviously, was taking place, and opened up on the kids there. that's the direction of the police investigation going at the moment, of course it's at the suspect stage at moment,
alex. >> what about the other suspect? this is only relative to the shooting spree at the summer camp and not necessarily relative to helping building a successful car bomb in downtown oslo? >> at the moment that's all speculation, because if somebody helped him in the shooting, then maybe somebody helped him in the bombing. at the moment i believe that the story of the second suspect relates to a person who was arrested outside the hotel near the island where the survivors of the massacre are waiting, the children are waiting for their parents to come from all over norway. it's a huge country. to come and pick up the kids from the hotel. near that hotel a man was picked up with a knife. at the time when the norwegian prime minister was visiting the kids in that hotel. so he was detained, and the police are investigating whether maybe he was linked to the shooter. there's a lot of speculation, because the children on the island said they believed there
was more than one shooter. >> well, let's go through what we know, that this man allegedly was dressed as a policeman, gathered the kids around him there at that camp. martin, look at where this happened. how did he get on that island? did he have a boat stashed some place to get him there? >> reporter: he must have come from boat presumably. at the time he did it, there was no reason for people not to come by boat. apparently what happened was as i said before, the suspicion is he did the bomb, then drove to the island, and then got onto the island. whether he got there in his police uniform, the children said -- i'm not saying this is the suspect. a man in a police uniform gathered them altogether when they were all excitedly discussing what happened in oslo, the bombing. they thought he was summoning them together for their safety. he was the only policeman around. when he gathered them to him, they said he took out weapons from his bag and started
shooting them. can you imagine? >> no, i can't. it is beyond horrific. in oslo, norwegian residents in general, how are they reacting to all this today? >> reporter: you know, with absolute horror. i've spoken to lots of people. nare they're in a state of shock. they went to bed last night believing 17 people were killed in the bombing and shooting, and they were already describing it last night with the number of 17 dead as the worst attack in norway since world war ii. they went to bed believing 17 were dead, 10 children. they woke up this morning to find out it was 84 children killed between the ages 12, 13 and 19. >> actually, when you said that, it sent chills down my arms. it's beyond comprehendible. martin fletcher, thank you for giving up us the information as we know it thus far. appreciate it. for more on the man suspected on carrying out the attacks in norway, log onto our website at
msnbc.com. it's another brutally hot day across much of the country. we're looking at triple-digit temperatures in some areas once again, and the humidity is making things even worse. >> it takes your breath away. you step outside, and it's like, oh, my god. >> it's like melting like ice cream in the sunshine. >> this one seems like it's the hottest. i open up my bedroom door, and i feel like i'm walking into hell. >> a final good saturday morning to you on this day. i tell you, i can't imagine what it feels like out there. i'm so glad to be in an air-conditioned studio for a little while longer. >> reporter: it's pretty steamy. i know that's not very scientific to say. take a look at the fountains here at centennial park. this will going to see a lot of sticky, sweaty kids today.
a large chunk of the couldn't is under an extreme heat advisory, watch or warning today. and the temperatures are rising. >> yeah. you know, we talk about the temperatures rising, the humidity rising. i know we explained it from the weather channel that because of the humidity the body can't cool itself on. with that condensation we expect when it gets so hot, it just stays there. believe it or not, atlanta seems better than it is in new york today? >> reporter: yeah, it's a strange role reversal. they call it hotlanta for a reason. you see hotter temperatures there than here. talk about the heat indices in the deep south, south carolina is at 108, moving over to texas it's 101. as you move closer to the eastern seaboard and up the eastern seaboard, you're talking about 111 in d.c. and 104 in new york city. we'll be well below that for us. they're going to be relief on the way, at least for the northeast.
you're going to see some lower temperatures starting on monday. we in the south, we're going to continue to bake until next week, well into next week, alex, if it makes you feel better. >> i'm feeling for you and everybody out there. thanks so much. now you're released to jump through the fountains. thank you so much. the weather channel's mike bettes is live with the latest where we're looking and coming from and where we go to with this weather. what a mess. >> it is so, so hot out there for so many millions of americans for sure. you need to exercise patience because it's one more day in the northeast and the rest of the country baking. it is hot one at newark, 92 degrees, 93 in washington. you factor in the humidity, it's a scorcher out there. heat indices are approaching 100 if not going over including raleigh where a heat index is at 103 right now. it feels like 97 at the mall of
washington. there are all your advisories. we're talking about add vidzaries, warnings for heat that extends across 28 different states and 100 today. 103 in new york after 104, which was the second hottest day in central park lift. look at the heat that extends sunday. we drop back another 10 degrees in the northeast and rain will help cool us off. there's very little in the forecast for the northeast. maybe a few spits of rain, and that's not enough to any relief. look at minneapolis and the upper midwest, you have stormy weather today. your temperatures are significantly colder. there's your outlook for the afternoon. warm and sunny in the northeast and hot and blazing droet in tornado alley. we have warmer weather once again, but the drop the temperatures by 10 degrees. in the summertime you wonder where is winter. we're very fickle people here in the u.s. when it comes to our weather. >> we are indeed. no matter what you're telling us, imt not blaming the
messenger. thank you very much. as we told you at the top of the hour, just nints from now at white house the president is expected to convene another round of debt talks after a breakdown of negotiations last night. will the latest efforts work? we'll talk about that in minutes. also ahead, he's considering make a run on the white house and he's weighing? on a controversial issue. is this guy a sore loser. a tour de france winner takes a swing at a fan, and he's out but who is in now that the original old spice guy is movering with his potential. i'm going to miss this guy. soe he was so good. you're watching msnbc saturday. [ female announcer ] the healing power of touch
can be even more powerful, with precise pain relieving cream. it blocks pain signals fast for relief precisely where you need it most. precise. only from the makers of tylenol. precise. somewhere in america, a city comes to life. it moves effortlessly, breathes easily. it flows with clean water. it makes its skyline greener and its population healthier. all to become the kind of city people want to live and work in. somewhere in america, we've already answered some of the nation's toughest questions. and the over sixty thousand people of siemens are ready to do it again. siemens. answers. ♪ ♪ i like dat, all right [ male announcer ] mio. a revolutionary water enhancer.
he called for it at 11:00 a.m. eastern time to start, and they're there right now. let's go to nbc white house correspondent who has been watching all this. did anyone say anything going in? >> reporter: no talk, alex. the thing about this meeting coming up here. the president summoned these leaders here after talks collapsed after the republican leader, the speaker of the house john boehner pulled the plug for the second time in the course of three weeks in these negotiations. again, over the issue of taxes. it crashed and burned, duelling press conferences last night. first the president of the united states and then john boehner, both chiding the other in remarkably personal terms. the frustration is evident from both men. the president brought them here at 11:00 right now. therm allowed into the cabinet room where our cameras for those of you who keep track of this sortd sort of thing. it was originally scheduled for the oval office. for a brief time cameras we call
this a pool spray were allowed in that room. no talk from any of the leaders. pretty much sitting there and posing for a picture indiana. so the meeting has commenced. we have no idea how long this is going to last. we have no idea whether they can approximate pick up the pieces of this train wreck here, this grand bargain that fell apartd last night. whether the incentive still exists that brought everybody to the table to begin with, or whether or not they work on a fallout plan that amounts to the least common denominator so they can continue to borrow money. >> we'll let you go and let you put your ear to the door on so to speak. i'm joined by david. what do you make of the time line here that we had all these conversations, negotiations, whatnot, golf summits and the like and everything comes up to last night, talks broken off and
everyone is back at it it this morning? >> a big question here is the fear of the unknown. we all know about this august 2nd time line, but the big question is, do they come out of this weekend with a deal, and if they don't on monday, do we see market indicators that the economy is getting rattled. could that spur action here? we are really in the last window of the potential of a deal, so the fear of the unknown is a big question. >> interesting what politico has reported here. that the president could not get speaker boehner on the phone thursday. on friday he hears from boehner's aides who said expect a call around 3:30 or so. when the president said how about now, the aide said no. how bad are things in washington when the president cannot get the speaker of the house on the phone? >> i think there was some gamesmanship here by the speaker's office last night with the president going on basically live television during the network newscast. i don't think the speaker wanted to give the president that
opportunity, but it it ended up that the president was able to go out and make his case first that boehner walked out of the talks. i think he was trying to hold his cards closer to the vest. yeah, it is an example of what people don't like about washington. there's going to be a pox on both houses, i think, when you see polls come out of this. there is a little bit of a risk for republicans because this is the second time it's been framed that they have walked out of talks. eric cantor a few weeks ago and now john boehner. >> i spoke with a republican congressman from new york, michael grimm, who offered the gop take on the negotiations. listen to this. >> in all sincerity, i don't think that the president has been operating with good faith from the beginning. some of the things that he says at the press conferences are not what he's seeing behind closed doors with speaker boehner when it comes to entitlement reform and taxes, he says wonderful things to the press, but it's not founded in reality.
>> do you think there is a disconnect between what is being put out there for the public consumption and what's actually being said behind the scenes? each side goes out and spinning it? >> right. i think there's absolutely a disconnect. we never know what goes on in these meetings. this is basically a pr war between the president and the speaker's office so far. they get to come out and put out their stories, and that's why it was so important yesterday as all these accounts come out to what happened. president obama, i think, has the advantage because why? it's an obvious answer. he's the president. when he went out and spoke last night, all the newscasts took it live, local newscasts took it live. he said, look, the republicans are walking out on this again. boehner's office gives their observation. does this matter in the end? people are looking for a deal, and that's the big question. >> is anyone a winner here politically speaking? >> i don't think we know yet, but i think, as i said, there's a bit of a more risk for the
republicans. if you look at polling, it's marginal, but the president has a little bit of an advantage because i think of the bully pulpit. if the republicans are framed as walking out twice on this, this could be problematic. it appears to be that the problem is revenues and tax increases. that's what the republicans, has been their trump card on these negotiations and that's what you hear more about if a deal falls through, it was tax increases they could not sign onto. >> david, thanks. >> sure. coming up a day at the beach on one of the hottest days of the year. is it really a place to beat the heat? f!
developing now, a meeting today on the debt crisis in washington. president obama and republicans in the house are trying again to reach an agreement. there are only ten days left before the august 2nd deadline, before the u.s. goes into default. joining me now is rick newman. good morning to you. >> hi, alex. >> you think these two sides can finally work out a deal, if not today sometime over the weekend? maybe wednesday? i had a represent tif tell me earlier it has to be done by then? >> it would be nice if they could resolve this. they could work out a deal. it's not as if there are not enough solutions or ideas about how to solve the problem. one thing to keep in mind is there are all kinds of ways to solve this problem. economically this is not that hard. this is entirely a man made political problem right now. they're looking at all the options on the table and saying we don't like any of them. that's the problem right now. >> if there's no deal, does
default automatically follow? >> "default" means that the u.s. government will stop making interest and principal payments on its debt. that's not going to happen. >> we have the money to make payments? >> those payments amount to 5% of all government spending. what will happen is the government cannot borrow any more money. that borrowed money accounts for about 40% of all spending. it can still spend about 60% it ordinarily spends, and it's almost guaranteed including in spending will the interest and principal payments. the u.s. won't default on the debt. it will be an enormous problem because that 40% of government spending amounts to 10% of all gdp if you annualize that. we're suddenly going to have a shrinking economy. if that happens it's almost guarantees it will cause a recession if it lasts. >> does this mean folks like
senior citizens don't get the social security checks and folks in the military don't get paid? is that the practical day-to-day problem that can result? >> we don't know how this is going to shake out. it means that the government has to decide who gets paid and who doesn't get paid. there's no plan in place. this has never happened before. there's no protocol who says this is who gets paid and who doesn't. this is an awful scenario, because nobody wants the government to have to decide who getsz money and who doesn't get money. this has all kinds of effects because people who don't get paid, thet can't pay their bills and that affects somebody else down the chain. it's a horrifying scenario. >> what would happen for certain is another recession would be caused, right? >> if it lasts. no one sympatthinks if it happe will last for six months. we have this image of maybe this goes on for a couple of days. there are convulsions inned financial markets and washington gets religion on this and says we get it and need to do something. that alone adamaging.
you kantd simply unscramble all the eggs. a lot of things happen that you can't necessarily undo. >> what about the prospect of wall street finding some way to make money off this? wall street is doing pretty well from the corporate perspective right now. they're doing well with their books. zee >> that's right. there are ways to profit if the u.s. government gets into a sort of near default situation. it's called shorting treasuries. there are investment vehicles set up to do this. this is not necessarily as bad as it sounds, because you're always trying to make guesses about what's going up or down in the future, and that's calmed hedging. there are ways and some of the investing firms are saying who gets hit the worst if we really do have this worst-case scenario, and then do they have to sell assets we might pick up at fire sale prices? this is the way a free market economy works. it's a very ugly scenario. >> it sure is right now.
thank you so much. >> okay. now that the old spice guy has moved on to doing movies and whatnot, there's a new old spice guy on the scene. check him out. >> and you? >> yes. >> and you? >> yes. >> and you? >> yes. >> that was ridiculous. that is fabio. yes, it's, true, fabio has done several old spice spots. they're sfoechd to be funny, but procter & gamble is saying he's not the permanent replacement. judging by the reaction on facebook, he may not be the permanent one. you're watching msnbc saturday. [ male announcer ] walls can talk.
but it's our job to make them say something interesting. so how about this weekend we learn some new tricks of the trade... then break out our doing clothes and get rolling. let's use some paint that helps us get the job done in record time and makes a statement when we're finished. we're lowering the cost of a new favorite color. more saving. more doing. that's the power of the home depot. glidden premium paint has been rated a best buy, and you can only get it at the home depot.
[ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the cc. and every volkswagen includes scheduled carefree maintenance. that's the power of german engineering. right now lease the volkswagen cc sport for just $289 a month. ♪ visit vwdealer.com today. developing news at the white house with the president meeting
with top congressional leaders from both parties. the president scheduled those talks last night after john boehner walked away from the negotiations. this morning the house speaker released a statement saying the president may be putting his re-election campaign ahead of the nation's economy. in a minute we talk about what the american people want to see happen with these talks. police say a norwegian man is suspected in two separate attacks in that country, and the associated press says the death toll has now climbed to 92. the first attack happened in downtown oslo when a bomb exploded killing 7 people. a short time later a gunman opened fire at a teen youth camp on an island outside of oslo there killing 85. they say police are investigating whether another suspect was involved in the shooting spree. witnesses at the summer camp describe a scene of sheer te terror. >> there was many shot people, so i saved -- i tried to save those that i could, but there were people that i couldn't do
anything for. >> nbc news has yet to confirm his identity, but norwegian state tv has identified this man in custody as 32-year-old anders bravik. a farm supply company says he bought six tons of potentially explosive fertilizer ten weeks ago. i earlier talked with evan coleman. >> he's a right swing christian fundamentalist. supposedly he went on twitter and the internet and he made various comments saying he was intent on making history and taking these principles he had and sacrificing himself for the cause. what cause it is, it's very difficult to understand. killing kids. >> it's very sick. >> it is twisted. it is very twisted, and i think they have to look at this individual the same way they looked at major hasan down in texas at the ft. hood massacre and determine whether or not this is someone acting on political prisoners or he's completely crazy. >> police say he's cooperating.
let's go to the oppressive heat and a wave of heat suffocating millions of people across a swath of lands measuring over 1 million square miles and everyone is desperate for relief. >> i open up my bedroom door, and i feel like i'm walking into hell. >> we love new york, but not this hot. it's really, really hot. it's something i've never like in my life i've experienced in this case lig it before until now. >> i'm melting away like ice cream in the sunshine. >> the national weather service has issued excessive heat warnings and advisories for much of the mid-section and northeast. eric fisher joins us live from jones beach, new york. give us a read. you've been there all morning long. how bad is it compared to 7:00 a.m.? >> reporter: it's definitely warmer, that's for shumplt you head to the city, and that's where you find of oppressive stuff. it's tempered a little bit here.
there's a fresh breeze. you can walk down to the water that's a nice chilly 73 degrees. certainly finding some relief for what's been a terrible run along the east coast. yesterday it was a high of 104 in central park. newark, new jersey got up to 108 degrees. these are astounding numbers you don't see often. as a matter of fact, you have to go back 85 years to see the previous records, motor set in 1926. today is the last day of the real big heat here in new york city, and tomorrow we begin to cool off. new england cools down, and by monday it's down to d.c. it's a fairly short stint and it's different than in the midwest where it was so humid. here dew points are in the 60s and 70s. it's muggy and not oppressive and slightly less dangerous than chicago and the twin cities. >> how about the breeze? is that helping at all? >> reporter: it feels nice when it hits you, but the breelz was
why we got so hot during the day yesterday. it's out of the west and comes down off the hills. that's where the temperatures were allowed to get so high. you get to downtown new york, you go down a skyscraper and get him with a wall of heat, it doesn't feel good. >> you're a rock star hanging out with us on the beach all day when it's so hot and oppressive. for the latest information on how the historic temperatures may affect you, visit weather.com. congressional leaders are right now meeting with president obama as the debate on the debt deal goes down to the wire. the country is ten days away from not being able to pay its debts. last night president obama spoke about the frustration of the american people. >> for us to be more worried about what some funder says or some talk radio show host says or what some columnist says. the american people are just desperate for folks who are willing to put aside politics just for a minute and try to get
some stuff done. >> my boys are joining us right now, pat buchanan, the former communications director for president reagan and an msnbc political analyst and democratic strategy peter finn. pat, does the public have a right to be angry this is not done now? >> well, you know, the public can be angry. it's their prerogative, but it's done because there's a fundamental disagreement and difference here. i think this meeting on saturday, alex, what is the purpose of it? i think the president realizes given the disastrous deadlock that he reported on last night after the markets closed and boehner came out and the president, you just had those comments on there that go to the republican motives, i think there's a fear on the president's part and probably on the republicans' part, that this deadlock, if it's perceived that way z of sunday night and monday morning, could have a disastrous affect on the markets in europe and asia coming across to the united states on monday. you could get a disastrous
sell-off of some kind. my guess is out of this meeting you're liable to get some kind of reassurance that we are at least all talking again and everything is not completely off the table. >> how about you, peter? do you think the public should be angry right now? >> i think they are very angry, alex. look, if you look at the polls right now, about 58% of americans find that the economy and jobs is the most important problem. about 14% say the debt. they're not saying it's unimportant. they understand it. what they're seeing in washington right now is, you know, you guys don't care about us. you don't care about my lack of job or fear of losing my job. you don't care about my house being foreclosed on. you guys want to fight and not solve the problem. i think that to be honest the president's statement yesterday sort of rang true with a lot of americans. you know, pat has got his finger
right on it, and that is if something doesn't come out of this weekend, you know, you're going to have a situation on monday where these markets are going to be rattled. folks will never forget that rejection of the t.a.r.p. vote in the house of representatives where the next day the stocks market dropped 800 points. you know, i think the american people want to see serious progress, and they raeally want to see it fast. >> pat, do you think there's anything to the ultimate political sin in this cases who say the gop doesn't want to get something done here because it will reflect poorly on the president, that he carries the bag here. i guess by a domino effect we won't have the job increase people are looking for, and that gets him out of office in 2012? >> you know, i know that may be out there, but if it is, that would be suicidal thinking on the part of republicans. if if republicans are not only
perceived but are responsible for the fact that there's no increase in the debt ceiling in what peter described as an 800-point drop on the dow or 1,000 points and the public perceives the republicans did that, i think the republicans will lose the house in my judgment. i don't think the republicans are acting irresponsible. i don't believe they want to do that, and that's why i believe that even though they've got a principled position, as of right now we're at deadlock. who is is at fault, we're at deadlock. that's why you're going to get some kind of short-term increase in the debt ceiling. i think the president has to go for it, and frankly i think mr. boehner has to go for it. weap we don't want nothing on august 2nd. >> when it it comes to leadership, do you think the president has bowed too much to his own party, or there are those that suggest he's overly accommodating to the gop? how do you read it? >> alex, i'll tell you
something. anytime you have a president with a d after his name who is making concessions on things like social security and medicare and medicaid, you know, that is going to the heart of your base. this is a very courageous move on his part, and you know, i think that what frustrates him is he does not believe there is similar give on the other side. i think this is the problem boehner has. he's got a -- he's got a gang of folks on his side in the house who will not compromise on anything. he's having real trouble keeping these folks inside the tent. a lot of them go on your shows and say that the president is a liar and that they're not going to go for any tax increases. this is bad stuff. i'm not even insure hsure harry could get us out of this one, alex. >> that's saying something right there. that will be the final word. good to see you. in sports beyond the scores,
three thif time tour de france winner punched a fan running alongside him. not sure why he did that. sore sport? hmm. you're watching "msnbc saturday." ♪ ♪ [ male announcer ] more people are leaving bmw, mercedes, and lexus for audi than ever before. ♪ experience the summer of audi event and get over 130 channels of siriusxm satellite radio for three months at no charge.
now to the economy where again the numbers don't add up. if you're looking for a job, wall street saw some strong earnings reports this week. corporations are bringing in the cash, but they don't seem to be ringing the bell to hire new employees. so where are the jobs? msnbc analyst vera gibbons is here with a look at the economy for us. good morning. it seems like with the corporate profits off to a really strong start, the companies are reluctant to hire? >> there's an economic disconnect, because corporate profits are very strong and companies are not hiring, and, in fact, the unemployment rate has risen in more than half of the states or did last month. 28 states plus washington, d.c. the unemployment rate has risen.
the summer slump definitely continues. >> i don't get why that's happening. if they have the cash with all the profits, why don't they hire? >> they have record stockpiles of cash. $1.9 trillion is what the companies have accumulated. they're sitting on it and not doing anything with it. basically nothing, right? there's a number of reasons why this is happening. some of these companies are investing overseas where they get their growth from there as is the case with caterpillar, mcdonald's for example. that's happening there. these companies got used to getting three jobs out of just one person. if you look at the productivity levels, they're squeezing as much work as they can out of the existing work force. there's concern about consumer spending. will it go back to the way it was? probably not. there's concern about economic policy. that's putting companies at a position where they're not doing anything. >> with june numbers bad, what do you expect for july? >> the analyst said july is another bad month unfortunately. a net of gain of 50,000 to 75,000. growth is not kicking into the point where we need it to be to bring the unemployment rate
down. >> we're close to where we need to be. >> 9.2% right now. the economists and analysts expect 3% toward the back half of the year. >> good to see the end of the shut era may be sad for so many space enthusiasts, but for those who worked on the program, this is down right painful. that's coming up next. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. is now honey nut cheerios!
yup, america's favorite. so we're celebrating the honey sweetness, crunchy oats and... hey! don't forget me!! honey nut cheerios. make it your favorite too! just don't feel like they used to. are you one of them? remember when you had more energy for 18 holes with your buddies. more passion for the one ya love. more fun with your family and friends. it could be a treatable condition called low testosterone or low t. come on, stop living in the shadows. you've got a life to live. [ male announcer ] so don't blame it on aging. talk to your doctor and go to isitlowt.com to find out more.
when space shuttle "atlantis" touched down this past thursday, so went the space shuttle program. not only did the spaceships that took us that space, but also to 9,000 jobs. an emotional goodbye to some veterans who were with the program from the first launch and one of those workers, dean petit joins me now. from on emotional perspective,
your job notwithstanding, how does it feel that the last shuttle has touched down? >> well, there's obviously a sense of loss. i walked out of my lab the morning the shuttle touched down. i had worked in the temperature lab for over 15 years, and to power that equipment down and turn out the lights on that lab and close the door for the last time, it was pretty tough to do. >> yeah, i can imagine. what about the people with whom you've worked for all of these years? i imagine they had pretty much the same reaction. >> oh, yeah. we're family out there. you know, we're a big extended family. and to, you know, a lot of those people i'm never going to see again. it's like -- go ahead. >> i'm sorry to interrupt. i know that you take so much pride in the space program and the way that you contributed to it. tell me one of your favorite memories.
>> i'll be honest with you, one of my favorite memories was seeing and participating in the first launch of "columbia." if you look at our country's history coming up to "columbia," we had the end of the war in vietnam, you had watergate, you had the iran hostage crisis. there was a real crisis of confidence in our country leading up to that first launch. when we launched "columbia," we gave america something to be proud of. i'm really proud that i had the opportunity to participate in that. obviously over 30 years, i could definitely come up with a lot more. but i think that's out of all the launches that's still my single proudest moment. that we got this vehicle off the ground that wasn't supposed to be able to fly. >> i can see why you would take that as one of your proudest
moments. i'm curious with what's next for you. i hear you're starting a business with a website. what's that about? >> spacedoors.net, i'm ctrying o capitalize by consolidating all these opportunities into one knowledge base website in an effort to attract advertising dollars from hotels, vendors, fishing guides, bars, restaurants, tourism activity type things. i'm also going to be working with a kayaking outfitter providing fishing guide services. the name is a day away kayak tours. and that will allow me -- i'm sorry, go ahead. >> go ahead. >> it's a major outfitter and we
do tourism around the -- >> that -- >> i'm going to be their fishing guide and i'm looking forward to that. >> we wish you the best of luck. that's a wrap. we are monitoring the meeting at the white house and will let you know when they come out. i'm alex whit. thanks for joining us. called atrial fibrillation, or afib, that's not caused by a heart valve problem. today we have pradaxa to reduce the risk of a stroke caused by a clot. in a clinical trial, pradaxa 150 mg reduced stroke risk 35% more than warfarin. and with pradaxa, there's no need for those regular blood tests. pradaxa is progress. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding, and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have kidney problems or a bleeding condition, like stomach ulcers.
or if you take aspirin products, nsaids, or blood thinners. tell your doctor about all medicines you take, any planned medical or dental procedures, and don't stop taking pradaxa without your doctor's approval, as stopping may increase your stroke risk. other side effects include indigestion, stomach pain, upset, or burning. if you have afib not caused by a heart valve problem, ask your doctor if pradaxa can reduce your risk of a stroke.